382 replies to this topic

[dharma]

tria- a couple of things the election tends to skew things the storm will also have an effect seasonally , the gold market tends to bottom around nov1 the indian buying season begins now or close to it. notice all the central banks calling for their gold. interesting! the mining indexes patterns all look good gold is oversold and may have found good support @the round # dharma i want to see the market get over 1800 and well over it , so 1800 becomes a floor.

[stubaby]

i want to see the market get over 1800 and well over it , so 1800 becomes a floor.

[dharma]

it is still early for the short cycle to turn up. it tops in january, alot can happen between now and then. the storm will have a greater impact then commentators are talking about. that is salt water that flooded into the nyc subways. salt water corrodes as an example. i am sitting and watching. yes i see the downtrend , since the highs in gold/silver. after a 250+ advance in gold , giving back less than a 100 is quite normal. the highs were made 14months ago. compression is building. more of a pullback, i am a buyer. otherwise i wait. those turk pieces on kwn yesterday give some perspective. interesting the cots get the gold community in a tizzy. remember the banks are the commercials, the hedge funds they run are large specs. difficult to assess what their positions really are. it was not cbs buying the gold gordon brown et al were selling @300. who were the buyers? lots of gold has been leased, what happened after that? ?? is the gold the cbs hold , there????that is what germany and other cbs aim to find out. it was months after chavez demanded his gold before it was sent and then received? hmmm. anyone notice on weekly charts that a few of the majors have inverse h&s patterns spanning years. abx, gg, nem come to mind then there is aem, forming a big bowl pattern. the eagle reported better than expected earnings, in fact , it blew the cover off the ball. the primary trend is up just look @ monthly chart of gold since 99 or 01 . dharma

[stubaby]

it is still early for the short cycle to turn up. it tops in january, alot can happen between now and then. the storm will have a greater impact then commentators are talking about. that is salt water that flooded into the nyc subways. salt water corrodes as an example. i am sitting and watching. yes i see the downtrend , since the highs in gold/silver. after a 250+ advance in gold , giving back less than a 100 is quite normal. the highs were made 14months ago. compression is building. more of a pullback, i am a buyer. otherwise i wait. those turk pieces on kwn yesterday give some perspective. interesting the cots get the gold community in a tizzy. remember the banks are the commercials, the hedge funds they run are large specs. difficult to assess what their positions really are. it was not cbs buying the gold gordon brown et al were selling @300. who were the buyers? lots of gold has been leased, what happened after that? ?? is the gold the cbs hold , there????that is what germany and other cbs aim to find out. it was months after chavez demanded his gold before it was sent and then received? hmmm.
anyone notice on weekly charts that a few of the majors have inverse h&s patterns spanning years. abx, gg, nem come to mind
then there is aem, forming a big bowl pattern. the eagle reported better than expected earnings, in fact , it blew the cover off the ball.
the primary trend is up just look @ monthly chart of gold since 99 or 01 .
dharma

http://stockcharts.c...2002&r=9294.png

http://stockcharts.c...299531&r=65.png

http://stockcharts.c...01-31&en=(today)&i=p78362668572&a=249244274&r=572.png

http://stockcharts.c...05-31&en=(today)&i=p27071965187&a=231026006&r=1351697495039.png

http://stockcharts.com/c-sc/sc?s=$GOLD&p=M&st=1996-01-01&en=2012-12-31&i=p71184594845&a=259871923&r=830.png

[dharma]

i hope everyone survived sandy ok the inverse h&s patterns w/the 08 lows as the head dharma thanks stu

[dharma]

well here we are -nov 1 and it looks like the market is toying w/bottoming action. the 14.7.7 stochastics is turning up. we have a cross. the largest market, the bonds, have been in a bull market , artificial or otherwise , for quite some time. w/all the money printing world wide, @some point rates will rise, money will flee the bond market and come into real assets. patience grasshopper. i want to see the market get well over 1800 w/3 attempts to get over 1800 resulting in failures, it will become good support. lets see what the seasonal upturn brings.?! dharma

[dharma]

the daily charts of hui , xau, gdx, and gdxj all have powerful chart patterns. waiting to be sure the low is in. i dislike abx. their management has to be a bunch of jugheads. but, around 32 it has to be tempting. their hedging strategy, gone now, cost them billions dharma

Edited by dharma, 01 November 2012 - 03:16 PM.

[tradermama]

The $ is flirting with its 200 ma (80.63) trying to break through it. It's up big today due to strong jobs report. According to McClellan's article on 9/21

http://www.mcoscilla...urn_up_in_2013/

unemployment has a correlation with the cpi...and that conclusion shows unemployment going down to end of the year but turning up next year..the Dollar could very well follow this pattern and perhaps the scenario of the low in gold in December comes to play..just throwing it out..there will be bounces of course..but might stay in a trading range till then..could even dip under 1600..gotta be open minded to look at all sides imo.

Also, if the $ cant stay above the 200 day, then maybe this is a wash out for gold by the 9th of November which was a possible primary cycle low from Merriman now that we broke 1700 before that. I think the elections play a part of the direction.

TM

[dharma]

now there are daily divergences in gld. the mining indexes are still holding their patterns. the election in 04 came under mercury retrograde. the election was disputed, it took time, throwing the markets in a tizzy tuesday mercury goes retrograde, its election day. could create similar circumstances to 04 even though i see signs of bottoming action. i am very long anyways, i will wait and see what shakes out here dharma i do not like or trust management @abx . however the stock has caught my eye as it falls into the abyss. maybe just maybe i add this one???!!!

[stubaby]

now there are daily divergences in gld.
the mining indexes are still holding their patterns.
the election in 04 came under mercury retrograde. the election was disputed, it took time, throwing the markets in a tizzy
tuesday mercury goes retrograde, its election day. could create similar circumstances to 04
even though i see signs of bottoming action. i am very long anyways, i will wait and see what shakes out here
dharma
i do not like or trust management @abx . however the stock has caught my eye as it falls into the abyss. maybe just maybe i add this one???!!!

Edited by stubaby, 02 November 2012 - 11:31 AM.